Error in webpack error when trying to build

I'm getting the following error:

Unexpected token else You may need an appropriate loader to handle this file type.

if (action === 'category-update-only') {
    for (var i=0; i<vm.terms.length; i++)
        if (oldTerm.term === vm.terms[i].term) {
            vm.terms[i].tag = newTerm.tag;
        }
    }
}
else if (action === 'term-updated') {
    // Add new term:
    vm.terms.unshift(newTerm);
    // Find and remove oldTerm:
    for (var i=0; i<vm.terms.length; i++)
        if (oldTerm.term === vm.terms[i].term) {
            vm.terms.splice(i, 1);
        }
    }
}

It's saying I have an error on this line: else if (action === 'term-updated') { However this is a perfectly value else statement.