All you need to do is go into Backups.backupdb/yourComputerName/ and you'll be presented with a set of folders named in yyyy-mm-dd-hhmmss format. Simply locate the most recent (or sort them - the most recent will be at the bottom, thanks to its name) and copy it elsewhere. You can then delete the Backups.backupdb folder or wipe the entire drive as you wish.
That is NOT how it works. What you see in any given date folder is a collection of what are mostly links to the last time the file/folder changed. If you copy that link somewhere else and delete the Backups.Backupdb folder, you will end up with broken links and not many usable files. If you really want to know how backups work, start here:
Time Machine: 1 How it works, or fails to – The Eclectic Light Company
There are about a dozen, or more, descriptions of how TM works and why you cannot treat them like just another set of files. After a set of backups, the links will be long chains of links, maybe going all the way back to the original backup for files that are unchanged.
You can copy the entire backups.backupdb folder, but it will take a VERY long time to complete as all of the links have to be copied over. You can use a cloner, as I said, which is easier, but maybe not too much faster.
Here's the hint. The name of the backup folder is "backups.backupdb." Your "backups" are in a database of backups (hence the "db" in the second section). Don't mess with the internals of the database or the integrity of the databas will be destroyed and you lose it all.