The Template Persistent Cache initialization failed for Application Pool

Error: The Template Persistent Cache initialization failed for Application Pool 'DefaultAppPool' because of the following error: Could not create a Disk Cache Sub-directory for the Application Pool. The data may have additional error codes..

Check the path for ASP cache:

%windir%\system32\inetsrv\appcmd list config -section:system.webServer/asp

Ensure the path exists (from above):

mkdir "%SystemDrive%\inetpub\temp\ASP Compiled Templates"

A subdirectory or file C:\inetpub\temp\ASP Compiled Templates already exists.

Ensure the permissions include NETWORK SERVICE:

icacls "%SystemDrive%\inetpub\temp\ASP Compiled Templates" /grant "NETWORK SERVICE:(OI)(CI)(M)"

processed file: C:\inetpub\temp\ASP Compiled Templates
Successfully processed 1 files; Failed processing 0 files

Source: http://theether.net/kb/100127