Exonerating Cordelia initially, then her father in middle of tragedy (8)
I believe the answer is:
clearing
'exonerating' is the definition.
('clear' can be a synonym of 'exonerate')
'her father in middle of tragedy' is the wordplay.
'her' becomes 'Clea'.
'father in middle of tragedy' becomes 'ring' (I can't explain this - if you can you should believe this answer much more).
'clea'+'ring'='CLEARING'
'cordelia initially then' acts as a link.
This may not be right. Some or all of it may be part of another bit of the clue.
Can you help me to learn more?
(Other definitions for clearing that I've seen before include "open area" , "Break in a forest" , "part of forest" , "Absolving" , "Glade; declaring innocent" .)