ODBC Access Errors after Backup Exec 2010 R3 Service Pack 3 Update

Recently I updated Backup Exec 2010 R3 from SP2 to SP3 which reported no errors during the update.

Backups are now failing with the following Alerts:

ODBC Access Error. Possible lost connection to the database or unsuccessful access to catalog index in the database

Catagory: Catalog Error

Type: Error

Server: {Server Name}

Source: System

Event ID: 34338

System: Windows Server 2008 SP2

Backup Exec 2010 R3  Media Server Version 13.0 Rev 5204 (32 bit)

Installed Updates listed: Service Pack 3

Backup exec database is located on another SQL server on the network. I have verified that no network connection has been lost and that the DB is up and running on the other server.

Thank you in advance for your help!