Two notes about inline variable substitution to generate output names:
If you need to get more fancy, for example, change special characters, add a filename extension, or specify a full path to put the output in a specific location, the way to do this is using Python string expressions in the Calculate Value tool. If it really gets complicated you can write a python function in that tool.
If you do this in a loop, it's good practice to use precondition, connecting the Calculate Value tool to the tool that writes output using the calculated path -- to ensure the pathnames get calculated before you use them within the process chain.
Example Calculate Value Python expression, with a fix in case the Name has an embedded space, and a .dbf extension for writing in dbase format to a folder.
r"%Out Folder%\%Name%.dbf".replace(" ","_")