Great. Select the text, then the left-side Red rectangle, then choose ‘Tools’->‘Cut Shapes’. That is the first cut. De-select the text and reselect only the right side text, then select the right-side Red rectangle, then choose ‘Tools’->‘Cut Shapes’.
The result should provide you with the 3 sections as illustrated below:
matt & kelly_Edited_01.lbrn (248.2 KB)