Relieved and satisfied to be losing place (5)
I believe the answer is:
eased
'relieved' is the definition.
(easing is a kind of relieving)
'satisfied to be losing place' is the wordplay.
'satisfied' becomes 'pleased' (pleasing is a kind of satisfying).
'to be losing' is a deletion indicator.
'place' becomes 'pl' (I've seen this in other clues).
'pleased' with 'pl' removed is 'EASED'.
'and' is the link.
(Other definitions for eased that I've seen before include "Became less painful" , "Facilitated" , "Given relief" , "Slackened off" , "Comforted" .)