It's negative, out of the way, and unpleasant (5)
I believe the answer is:
nasty
'unpleasant' is the definition.
(nasty can mean unpleasant or horrible)
'it's negative out of the way' is the wordplay.
'it's negative' becomes 'nay' (nay is a kind of negative).
'out of' means one lot of letters goes inside another (some letters on the outside of others).
'the way' becomes 'st' (abbreviation for street).
'nay' placed around 'st' is 'NASTY'.
'and' is the link.
(Other definitions for nasty that I've seen before include "Horrible" , "Mean" , "Offensive or malicious" , "Evil" , "Horrid, repugnant" .)