diff --git a/lib/amd.js b/lib/amd.js
index ae7c64e3..df7f5dea 100644
--- a/lib/amd.js
+++ b/lib/amd.js
@@ -46,7 +46,7 @@
       if (load.metadata.format == 'amd' || !load.metadata.format && load.source.match(amdRegEx)) {
         load.metadata.format = 'amd';
         
-        if (!loader.builder || loader.execute === false) {
+        if (!loader.builder && loader.execute !== false) {
           var removeDefine = this.get('@@amd-helpers').createDefine(loader);
 
           __exec.call(loader, load);