Hold-up requires audacity and impudence (10)
I believe the answer is:
bottleneck
'hold-up' is the definition.
(I've seen this before)
'audacity and impudence' is the wordplay.
'audacity' becomes 'bottle' (both can mean bravery or heroism).
'and' is a charade indicator (letters next to each other).
'impudence' becomes 'neck' (I've seen this before).
'bottle'+'neck'='BOTTLENECK'
'requires' is the link.
(Other definitions for bottleneck that I've seen before include "Where traffic is squeezed" , "Where one may get trapped" , "Congestion" , "Constricted section of road" , "hold-up situation" .)