15 down
Middle
of
Feb,
day
in
early
May,
or
one
late
in
Dec?
(3)
Middle of Feb, day in early May, or one late in Dec? (3)
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The definition is at the end of the clue.
How the clue works
The definition is one late in Dec? — think Christmas Eve or New Year's Eve, both falling late in December. For the wordplay, "middle of Feb" pulls out E (the centre letter of F-E-B), and "day in early May" gives you VE (VE Day, 8th May), and the two bits together make your answer.