3ds Max Modeling :: Cutting Geometry Using Texture Map?

I was wondering if there is a way to cut out geometry using a texture map.

So lets say you have a quad thats uv mapped. you apply a black texture with a white dot in the middle. Is there a way to cut that circle out using a method that just aproximates the shape?

I would be using this for complex stuff. I understand its a crazy question but I figured no harm in asking. The only thing I know to do is to apply the texture and then in the viewport just hand cut. But its a lot of stuff to cut so i'm open to any shortcuts and tips.