Forms Data Controls :: 2.0 - System.out Of Memory Exception Error When Access The Web Application

I am working on a ASP.NET 2.0 application. I get the following exception sometimes when i access the web application. I believe it is related to the server where the application is hosted? Exception of type 'System.OutOfMemoryException' was thrown. Description: An unhandled exception occurred during the execution of the current web request. Please review the stack trace for more information about the error and where it originated in the code.

Exception Details: System.OutOfMemoryException: Exception of type 'System.OutOfMemoryException' was thrown. Source Error: An unhandled exception was generated during the execution of the current web request. Information regarding the origin and location of the exception can be identified using the exception stack trace below. Stack Trace:

[OutOfMemoryException: Exception of type 'System.OutOfMemoryException' was thrown.]
System.Reflection.Assembly._nLoad(AssemblyName fileName, String codeBase, Evidence assemblySecurity, Assembly locationHint, StackCrawlMark& stackMark, Boolean throwOnFileNotFound, Boolean forIntrospection) +0
System.Reflection.Assembly.nLoad(AssemblyName fileName, String codeBase, Evidence assemblySecurity, Assembly locationHint, StackCrawlMark& stackMark, Boolean throwOnFileNotFound, Boolean forIntrospection) +43
System.Reflection.Assembly.InternalLoad(AssemblyName assemblyRef, Evidence assemblySecurity, StackCrawlMark& stackMark, Boolean forIntrospection) +127
System.Reflection.Assembly.InternalLoad(String assemblyString, Evidence assemblySecurity, StackCrawlMark& stackMark, Boolean forIntrospection) +142
System.Reflection.Assembly.Load(String assemblyString) +28
System.Web.Configuration.CompilationSection.LoadAssemblyHelper(String assemblyName, Boolean starDirective) +46
[ConfigurationErrorsException: Exception of type 'System.OutOfMemoryException' was thrown.]
System.Web.Configuration.CompilationSection.LoadAssemblyHelper(String assemblyName, Boolean starDirective) +613
System.Web.Configuration.CompilationSection.LoadAllAssembliesFromAppDomainBinDirectory() +203
System.Web.Configuration.CompilationSection.LoadAssembly(AssemblyInfo ai) +105
System.Web.Compilation.BuildManager.GetReferencedAssemblies(CompilationSection compConfig) +178
System.Web.Compilation.BuildProvidersCompiler..ctor(VirtualPath configPath, Boolean supportLocalization, String outputAssemblyName) +54
System.Web.Compilation.ApplicationBuildProvider.GetGlobalAsaxBuildResult(Boolean isPrecompiledApp) +227
System.Web.Compilation.BuildManager.CompileGlobalAsax() +52
System.Web.Compilation.BuildManager.EnsureTopLevelFilesCompiled() +337
[HttpException (0x80004005): Exception of type 'System.OutOfMemoryException' was thrown.]
System.Web.Compilation.BuildManager.ReportTopLevelCompilationException() +58
System.Web.Compilation.BuildManager.EnsureTopLevelFilesCompiled() +512
System.Web.Hosting.HostingEnvironment.Initialize(ApplicationManager appManager, IApplicationHost appHost, IConfigMapPathFactory configMapPathFactory, HostingEnvironmentParameters hostingParameters) +729
[HttpException (0x80004005): Exception of type 'System.OutOfMemoryException' was thrown.]
System.Web.HttpRuntime.FirstRequestInit(HttpContext context) +8890735
System.Web.HttpRuntime.EnsureFirstRequestInit(HttpContext context) +85
System.Web.HttpRuntime.ProcessRequestInternal(HttpWorkerRequest wr) +259

What can be the reason for this error and what to check on the code or the server?