Old troll regularly getting acclaim (5)
I believe the answer is:
extol
'acclaim' is the definition.
(I've seen this before)
'old troll regularly getting' is the wordplay.
'old' becomes 'ex' (prefix meaning former or onetime).
'regularly' indicates alternate letters (regularly take one letter, leave next etc.).
'getting' says to put letters next to each other.
The alternate letters of 'troll' are 'tol'.
'ex'+'tol'='EXTOL'
(Other definitions for extol that I've seen before include "Highly commend" , "Lift up" , "Praise highly, laud" , "be lavish with praise" , "Speak highly" .)