Getting rid of time to celebrate (7)
I believe the answer is:
erasing
'getting rid of' is the definition.
(I've seen this before)
'time to celebrate' is the wordplay.
'time' becomes 'era' (era is a kind of time).
'to celebrate' becomes 'sing' (I've seen this before).
'era'+'sing'='ERASING'
(Other definitions for erasing that I've seen before include "Removing" , "Rubbing out" , "obliterating memory" , "Getting rid of" .)