Cannot create logical volume ("Device or resource busy")

Issue

• When trying to create a clustered logical volume, we see the following error:

# lvcreate -l 100%FREE -n lv01 vg01
  Error locking on node hostname.example.com: device-mapper: create ioctl on vg01-lv01 failed: Device or resource busy
  Failed to activate new LV.

• When we attempt to remove the device-mapper entry, we see:

# dmsetup remove vg01-lv01
Limit for the maximum number of semaphores reached. You can check and set the limits in /proc/sys/kernel/sem.
Command failed

In /proc/sys/kernel/sem, we see

# cat/ proc/sys/kernel/sem
250 100 100 128