Copy host content to limit charges (5)
I believe the answer is:
mimic
'copy' is the definition.
(I know that mimic is a more specific form of the action copy)
'host content to limit charges' is the wordplay.
'host' becomes 'mc' (short for master of ceremonies).
'content to' means to look at the middle letters (the contents of the word).
'charges' is an insertion indicator (charge can mean to charge into something).
The middle letters of 'limit' are 'imi'.
'mc' placed around 'imi' is 'MIMIC'.
(Other definitions for mimic that I've seen before include "Caricature" , "'Copy, imitate (5)'" , "Skilled imitator" , "Imitate satirically" , "Appear just like" .)