The put_Value method stores a VARIANT in the Application object.
HRESULT put_Value(
BSTR bstrValue, //binary string that contains the name of the
// variable
VARIANT var //VARIANT that contains the variable value
);
If the VARIANT being stored is an Automation object, ASP will attempt to store the default value of that object into the application. If ASP cannot get the default value, then the call will fail.