Allocate, with "out" (4)
I believe the answer is:
mete
'allocate with out' is the definition.
(I've seen this in another clue)
This is all the clue.
(Other definitions for mete that I've seen before include "Dish (out)" , "Administer or bestow, as in small portions" , "Apportion" , "Allot" , "Dispense, give (out)" .)