Thanks for the replies guys. Adding the precondition in that spot did the trick Shitij.
Curtis, I'm using the Parse path tool extensively and it's pretty slick. The problem I'm running in to is that I'm generating individual clipped raster files for a list shapefiles (bnd1_raster, bnd2_raster, etc.). Due to some downstream processing, my rasters end up with names like bnd1_raster_tpi, bnd2_raster_tpi, etc. I need to clip these again by the perspective shapefile feature. Was thinking that using calculate field on %Value% (%Value% = bnd1_raster_tpi) and stripping the "_raster_tpi" and adding ".shp" would be the easiest way to specify the right shapefile to clip by in each iteration.
I know this would be MUCH easier if I would just script it in Python, but now the Calculate Field tool is gettign the best of me and I can't have that happen... 🙂
Wade