Agent taking in band that's bouncy (7)
I believe the answer is:
springy
'bouncy' is the definition.
('springy' can be a synonym of 'bouncy')
'agent taking in band' is the wordplay.
'agent' becomes 'spy' (spy is a kind of agent).
'taking in' is an insertion indicator.
'band' becomes 'ring' ('ring' can be a synonym of 'band').
'spy' going around 'ring' is 'SPRINGY'.
'that's' is the link.
(Other definitions for springy that I've seen before include "With bounce" , "Elastic, resilient" , "jumpy" .)