In what way is the wording "wrong"? Do you mean it's morally wrong? The key word being "IF". To the extent that a borrower is not converting to a tracker that provision is obviously irrelevant. I don't agree that the wording has that meaning and I certainly like to think that I'm a reasonable person. In any event, my reading of the wording is not particularly important. Have you considered testing your thesis in the courts? If you are so certain that your interpretation would prevail why haven't you sued BOI?