Preventive Maintenance Kit #3 counter active (Cutter Assembly).
Try the following:
1. Switch the Power OFF from the back of the Printer and disconnect the Power cord.
2. Change the Cutter Assembly using Preventive Maintenance Kit #3. Note that the PMkit is the same as the Cutter Assembly.
3. Once the parts have been changed, use the Service Menu to reset the counters that affect PMKit #3.