$modelname

From Valve Developer Community

The QC command $modelname must always be used. It specifies the path and filename of the compiled model, relative to the \models folder of VPROJECT.

Warning:Studiomdl won't create folders that don't exist. The path specified by $modelname must exist before compiling begins.

Example

$modelname		"weapons\shell.mdl"
$cdmaterials		"models\weapons\"
$body		shell	"shell-ref.smd"
$sequence	idle	"shell-idle.smd"

This model will be created at <game>\models\weapons\shell.mdl.

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