Fatal simulation error(s) encountered in proteus solved

How to fix fatal error eounctered in proteus8?
This problem can happen if you are simulating a component that doesnt have a **TEP hex file**!
Lets take the IR sensor as example!
When i try to simulate it, i get this message:

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Embedded systems engineer and educator. Writes weekly tutorials at EmbedLab to help beginners ship real hardware.
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