Generate Data Script fails with out of memory error (4243613)

Generate Data Script fails with out of memory error:

Exception: Quest.Toad.Exceptions.BaseException
Message : Exception of type 'System.OutOfMemoryException' was thrown.
Stack Trace:
at
Quest.Toad.SqlServer.Doe.GenerateDataScript.DataScriptProperties.GenerateDataScript(Object
argument)
at
Quest.Toad.SqlServer.Doe.GenerateDataScript.DataScriptProperties.worker_DoWork(Object
sender, DoWorkEventArgs e)
Inner Exception: System.OutOfMemoryException
Message : Exception of type 'System.OutOfMemoryException' was thrown.Generate Data Script fails with out of memory error.

A similar memory error is thrown when exporting tables via the Export Data Wizard:

Program memory is too low. 399 MBs available. Reduce size of work load or increase RAM. The application has run out of memory or disk space while exporting the results. Please limit your result set or use a more efficient export type such as CSV (Comma Separated Values).