I am getting a very similar runtime error with any tool that I try to use. I reset the target locations to the defaults as recommended, but still have the error.
Could someone please elaborate on this advice from nidhidkn:
<<Specifying a geodatabase layer as the output instead of a shapefile will fix the error. Also make sure you have all the necessary default fields in the feature class.>>
I'm confused because when I tried to point the raster outputs to a file geodatabase, it wouldn't let me since rasters have to be in data folders, and cannot be stored in geodatabases.