Definitions of cut out:

• verb:   cease operating

  Example: "The pump suddenly cut out"

• verb:   delete or remove

  Example: "Cut out the extra text"

• verb:   form and create by cutting out

  Example: "Picasso cut out a piece of paper in the shape of a guitar"

• verb:   intercept (a player)
• verb:   cut off and stop

  Example: "The bicyclist was cut out by the van"

• verb:   strike or cancel by or as if by rubbing or crossing out
• adjective:   having been cut out