After you have the stripe completely applied, take a sharp razor and cut out the side marker light. Leave about 1/16-inch of stripe protrude into the marker light opening. The opening should be centered in the large portion of the stripe. You will also need to trim the edge of the stripe that protrudes into the trunk area. Use a razor and straight edge to do this.
With the stripe applied, make sure there are no air bubbles under it. If there are, parking the car in the sun may help. If not, puncture the air bubble with a very small needle and work the bubble flat. After that, you can install the marker light.