What is the difference between temporary and permanent temperature overrides?

A temporary override (using the arrow buttons) adjusts the temperature only until the next scheduled time period begins. A permanent override (using the HOLD button) turns off the entire program schedule and maintains whatever temperature you set for 24 hours a day until you manually change it or press RUN SCHEDULE to resume the programmed schedule.

From the official Honeywell TH6110D Programmable Digital Thermostat manual, page 13

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