OK after renouncing a vice (5)
I believe the answer is:
'vice' is the definition.
(I've seen this before)
'ok after renouncing a' is the wordplay.
'ok' becomes 'agreed'.
'after renouncing' is a deletion indicator.
'agreed' with 'a' removed is 'GREED'.
(Other definitions for greed that I've seen before include "Insatiability" , "Gluttony" , "Wanting too much" , "sin" , "Rapacious desire" .)