A cutting apparatus is disclosed and which includes a cutter knife which is reciprocally moveable along a path of travel, a track member mounted adjacent to the cutter knife, and which mechanically cooperates with the cutter knife so as to define, at least in part, a first non-cutting position, and the second, cutting position for the cutter knife, and a magnet mounted on the track member and which releasably magnetically restrains the cutter knife when the cutter knife is in either of the first non-cutting position, or the second, cutting position.