Sharepoint - Microsoft.Office.Server.UserProfiles.UserProfileApplicationNotAvailableException: UserProfileApplicationNotAvailableException_Logging :: UserProfileApplicationProxy.ApplicationProperties ProfilePropertyCache does not have

Exception on UPS Service
Exception instantiating UserProfileManager, exception is Microsoft.Office.Server.UserProfiles.UserProfileApplicationNotAvailableException: UserProfileApplicationNotAvailableException_Logging :: UserProfileApplicationProxy.ApplicationProperties ProfilePropertyCache does not have afdf55d6-5c22-488d-80bb-4dd0db6c5907     at Microsoft.Office.Server.Administration.UserProfileApplicationProxy.get_ApplicationProperties()   
at Microsoft.Office.Server.Administration.UserProfileApplicationProxy.CheckAdministrationAccess(UserProfileApplicationAdminRights rights, Boolean requireAllRights)   
at Microsoft.Office.Server.Administration.UserProfileApplicationProxy.CheckAdministrationAccess(UserProfileApplicationAdminRights rights)   
at Microsoft.Office.Server.UserProfiles.ProfileManagerBase.CanManagePeople(UserProfileApplicationProxy userProfileApplicationProxy)   
at Microsoft.Office.Server.Administration.UserProfileApplicationProxy.get_IsProfileAdmin()   
at Microsoft.Office.Server.UserProfiles.ProfileManagerBase.get_IsProfileAdmin()   
at Microsoft.Office.Server.UserProfiles.UserProfileManager..ctor(SPServiceContext serviceContext, Boolean IgnoreUserPrivacy, Boolean backwardCompatible)   
at Microsoft.Office.Server.UserProfiles.UserProfileManager..ctor()   
at Microsoft.Office.Server.UserProfiles.UserProfileService.InitProfileManager()
Resolution
The error that we were seeing in ULS (UserProfileApplicationProxy.ApplicationProperties ProfilePropertyCache does not have afdf55d6-5c22-488d-80bb-4dd0db6c5907).
afdf55d6-5c22-488d-80bb-4dd0db6c5907 is one of the Machine Keys. Since the administrators did not have proper access to the keys, the error was being thrown.
 

Navigate too - C:\ProgramData\Microsoft\Crypto\RSA
· Right Click Machine Keys

- Properties > Security > Advanced > Change permissions > Adminsitrators > Edit

   - Set "Apply To" as "This folder only"

         - This Folder Only = Special Permissions

·                      Special Permissions has full control + additional permissions

-  Apply To value was set too "This folder, subfolder, and files"

                  -  Denotes Full control only