Taking up little space in the agreement (7)
I believe the answer is:
compact
'taking up little' is the definition.
'compact' can be an answer for 'little' (I've seen this before). I am not sure about the 'taking up' bit.
'space in the agreement' is the wordplay.
'space in' becomes 'com' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'the agreement' becomes 'pact' (a pact is an agreement or deal).
'com'+'pact'='COMPACT'
Can you help me to learn more?
(Other definitions for compact that I've seen before include "Agreement - brief" , "Concise" , "bargain" , "Small case for face-powder" , "An official agreement" .)