Note: If you want to cut one or more faces that are part of open or closed solid objects, you can use the Faces / Trim function. The Cut function treats each individual face as an open object, therefore the interaction is the same as Cutting One Object by Multiple Objects.
The part shown below consists of two individual solids and one face. The face is a blend face between two splines.
No material is "removed" from the face, despite the presence of the solids. This can be demonstrated by moving the solids.
Required Step 1 
Select the face to be cut. Press exit when the face is selected.
Required Step 2
Toggle the Separate Objects/Don't Separate Objects button as required and select the cutting tools, in this case the blue and yellow objects. Press exit when the objects are selected.
Press OK 
or Apply 
in the Feature
Guide to complete the function.
If the blue and yellow objects are moved, you can see that the face is cut.
When completed, the Cut appears in the Feature Tree as follows:
