Devour repast, regularly taken (3)

I believe the answer is:

eat

'devour' is the definition.
(to eat is to devour or consume)

'repast regularly taken' is the wordplay.
'regularly taken' means one should take alternating letters (letters removed at regular intervals).
The alternate letters of 'repast' are 'EAT'.

(Other definitions for eat that I've seen before include "Have 23d [MEAL]" , "Dine in a restaurant" , "Consume (food)" , "Consume for tea" , "get stuck in" .)

I've seen this clue in The Times.

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