Hold and use Bond outside institute (5)
I believe the answer is:
wield
'hold' is the definition.
(I know this)
'bond outside institute' is the wordplay.
'bond' becomes 'weld' (as in welding things together).
'outside' indicates putting letters inside.
'institute' becomes 'i' (common abbreviation as in MIT).
'weld' placed around 'i' is 'WIELD'.
'and use' is the link.
I am not very happy about this link. Some or all of it may belong to another bit of the clue.
Can you help me to learn more?
(Other definitions for wield that I've seen before include "Use (weapon, authority)" , "Brandish a weapon or exert power" , "exercise" , "Hold and use (a weapon or tool)" , "Handle - manage" .)