diff --git a/src/dynare_gui.m b/src/dynare_gui.m
index a75e7244f5c538076d7c6f1ed8fb202c5d7ccc6c..69029c4ab3d3ae978ffd60bb4127c0a17b165ede 100644
--- a/src/dynare_gui.m
+++ b/src/dynare_gui.m
@@ -109,10 +109,10 @@ if ~isempty(project_info)
         catch
         end
     end
-end
-
-if ~isempty(model_settings)
-    evalin('global', 'clear model_settings')
+else
+    if ~isempty(model_settings)
+        evalin('global', 'clear model_settings')
+    end
 end
 
 gui_set_project_info()