I think of it as "otherwise:"
IMO a better design would be to have a block that always executes at the end of the loop - there's even a reasonable keyword for it, `finally` - but gets a boolean flag indicating whether there was a break or not:
for server in servers:
if server.check_availability():
primary_server = server
break
finally did_break:
if not did_break:
primary_server = backup_server
Or better yet, make `break` take an optional argument (which defaults to `True` if unspecified), and that's what you get in `finally`. So this could be written: for server in servers:
if server.check_availability():
break server
finally server:
primary_server = server if server is not None else backup_server