Variable doesn't update with connects?

What i'm trying to do is edit a variable so when a child is added/removed it will connect a function..

wait(3)
player = game.Players.LocalPlayer

function Party()
    this = nil
    this = game.Lighting.Party:FindFirstChild(player.InParty.Value)
end

function update()
    Party()
    print(this)
    local Slots = script.Parent:GetChildren()
    local ok = this:GetChildren()
    wait(1)
    for i = 1, #Slots do
        for a = 1, #ok do
            if i == a then
                Slots[i].Text = ok[a].Name
            end
        end
    end
end

function deupdate()
    local retext = script.Parent:GetChildren()
    for i = 1, #retext do
        if retext[i]:IsA("TextLabel") then
            retext[i].Text = ""
        end
    end
    update()

end

update()
Party()

this.ChildAdded:connect(deupdate)
this.ChildRemoved:connect(deupdate)

in function Party it's meant to update the variable "this" It only works with the original variable. Do I also need to update the connects at the bottom of the script?