On the way out, Indy's recycled? Good (5)
I believe the answer is:
dying
'on the way out' is the definition.
(informal phrase meaning dying)
'indy's recycled? good' is the wordplay.
'recycled?' indicates an anagram (I've seen 'recycled' mean this).
'good' becomes 'g' (abbreviation).
'indy' with letters rearranged gives 'dyin'.
'dyin'+'g'='DYING'
(Other definitions for dying that I've seen before include "On the way out" , "Perishing" , "Starting to stop!" , "Withering" , "Passing away" .)