ip resource failed with "Link for <iface>: Not detected" in a RHEL 5 or 6 High Availability cluster with rgmanager

Issue

• There was a partial network outage due to which cluster services went down.
• "kernel: e1000e: eth0 NIC Link is Down" messages are found in the nodes after which the cluster service failed due to non-availability of the IP resource.
• There was a failure of my service following error messages from a network driver and our ip resource

Mar 24 23:44:11 nodeA kernel: e1000: eth2: e1000_watchdog_task: NIC Link is Down
Mar 24 23:44:15 nodeA kernel: e1000: eth0: e1000_watchdog_task: NIC Link is Down
Mar 24 23:44:15 nodeA kernel: bonding: bond0: now running without any active interface !
Mar 24 23:44:20 nodeA clurgmgrd: [7851]: <warning> Link for bond0: Not detected
Mar 24 23:44:20 nodeA clurgmgrd: [7851]: <warning> No link on bond0...
Mar 24 23:44:20 nodeA clurgmgrd[7851]: <notice> Stopping service cluster_service
Mar 24 23:44:20 nodeA clurgmgrd: [7851]: <info> Executing /path/to/service stop
Mar 24 23:44:21 nodeA clurgmgrd: [7851]: <info> Removing IPv4 address XXX.XX.XX.XX from bond0