Model import error - Could not load file or assembly

ERROR: Could not load file or assembly XYZ or one of its dependencies. This assembly is built by a runtime newer than the currently loaded runtime and cannot be loaded.

Seeing this while importing a model in a new environment may mean that the AxUtil.exe.config file is missing.  It needs to be in the same Bin folder as AxUtil.exe and should have the following:

<?xml version="1.0" encoding="utf-8" ?>
<configuration>
 <startup useLegacyV2RuntimeActivationPolicy="true">
   <supportedRuntime version="v4.0.30319" />
<supportedRuntime version="v3.5" />
<supportedRuntime version="v2.0.50727"/>
 </startup>
</configuration>

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