diff --git a/src/librustc_metadata/creader.rs b/src/librustc_metadata/creader.rs
index 5af4db6041115..fcdb968dc0615 100644
--- a/src/librustc_metadata/creader.rs
+++ b/src/librustc_metadata/creader.rs
@@ -236,7 +236,8 @@ impl<'a> CrateLoader<'a> {
             // path (this is a top-level dependency) as we don't want to
             // implicitly load anything inside the dependency lookup path.
             let prev_kind = source.dylib.as_ref().or(source.rlib.as_ref())
-                                  .unwrap().1;
+                                  .or(source.rmeta.as_ref())
+                                  .expect("No sources for crate").1;
             if ret.is_none() && (prev_kind == kind || prev_kind == PathKind::All) {
                 ret = Some(cnum);
             }
diff --git a/src/test/run-make/issue-40535/Makefile b/src/test/run-make/issue-40535/Makefile
new file mode 100644
index 0000000000000..7d513a86a7fa5
--- /dev/null
+++ b/src/test/run-make/issue-40535/Makefile
@@ -0,0 +1,11 @@
+# The ICE occurred in the following situation:
+# * `foo` declares `extern crate bar, baz`, depends only on `bar` (forgetting `baz` in `Cargo.toml`)
+# * `bar` declares and depends on `extern crate baz`
+# * All crates built in metadata-only mode (`cargo check`)
+all:
+	# cc https://github.com/rust-lang/rust/issues/40623
+	$(RUSTC) baz.rs --emit=metadata --out-dir=$(TMPDIR)
+	$(RUSTC) bar.rs --emit=metadata --extern baz=$(TMPDIR)/libbaz.rmeta --out-dir=$(TMPDIR)
+	$(RUSTC) foo.rs --emit=metadata --extern bar=$(TMPDIR)/libbar.rmeta --out-dir=$(TMPDIR) 2>&1 | \
+	grep -vq "unexpectedly panicked"
+	# ^ Succeeds if it doesn't find the ICE message
diff --git a/src/test/run-make/issue-40535/bar.rs b/src/test/run-make/issue-40535/bar.rs
new file mode 100644
index 0000000000000..4c22f181975b8
--- /dev/null
+++ b/src/test/run-make/issue-40535/bar.rs
@@ -0,0 +1,13 @@
+// Copyright 2017 The Rust Project Developers. See the COPYRIGHT
+// file at the top-level directory of this distribution and at
+// http://rust-lang.org/COPYRIGHT.
+//
+// Licensed under the Apache License, Version 2.0 <LICENSE-APACHE or
+// http://www.apache.org/licenses/LICENSE-2.0> or the MIT license
+// <LICENSE-MIT or http://opensource.org/licenses/MIT>, at your
+// option. This file may not be copied, modified, or distributed
+// except according to those terms.
+
+#![crate_type = "lib"]
+
+extern crate baz;
diff --git a/src/test/run-make/issue-40535/baz.rs b/src/test/run-make/issue-40535/baz.rs
new file mode 100644
index 0000000000000..737a918a0398d
--- /dev/null
+++ b/src/test/run-make/issue-40535/baz.rs
@@ -0,0 +1,11 @@
+// Copyright 2017 The Rust Project Developers. See the COPYRIGHT
+// file at the top-level directory of this distribution and at
+// http://rust-lang.org/COPYRIGHT.
+//
+// Licensed under the Apache License, Version 2.0 <LICENSE-APACHE or
+// http://www.apache.org/licenses/LICENSE-2.0> or the MIT license
+// <LICENSE-MIT or http://opensource.org/licenses/MIT>, at your
+// option. This file may not be copied, modified, or distributed
+// except according to those terms.
+
+#![crate_type = "lib"]
diff --git a/src/test/run-make/issue-40535/foo.rs b/src/test/run-make/issue-40535/foo.rs
new file mode 100644
index 0000000000000..53a8c8636b148
--- /dev/null
+++ b/src/test/run-make/issue-40535/foo.rs
@@ -0,0 +1,14 @@
+// Copyright 2017 The Rust Project Developers. See the COPYRIGHT
+// file at the top-level directory of this distribution and at
+// http://rust-lang.org/COPYRIGHT.
+//
+// Licensed under the Apache License, Version 2.0 <LICENSE-APACHE or
+// http://www.apache.org/licenses/LICENSE-2.0> or the MIT license
+// <LICENSE-MIT or http://opensource.org/licenses/MIT>, at your
+// option. This file may not be copied, modified, or distributed
+// except according to those terms.
+
+#![crate_type = "lib"]
+
+extern crate bar;
+extern crate baz;