Replace:
./yet_other_script.sh "$(echo $THE_KEY)"
with:
./yet_other_script.sh "$THE_KEY"
More details
Consider a directory with these files:
$ ls file*
file file1 file2 file3
Define the variable:
$ TheKey="a file?"
Now, watch what echo $TheKey does:
$ echo $TheKey
a file1 file2 file3
The multiple spaces between a and file have been collapsed. This is the result of word splitting. Also, the string has been subjected to pathname expansion resulting in file? being replaced by the names of files.
In sum, unless you explicitly want the shell to perform expansions, always put your shell variables in double-quotes:
$ echo "$TheKey"
a file?
That's not all: Command substitution removes trailing newlines from the output of the command. For example:
$ TheKey=$'abc\n\n\n'
$ echo "$(echo "$TheKey")"
abc
$