This error will cause high load on your sever. There is a variable on mysql .cnf file. You may need to look at it check your variable and see if you can optimize your server. However, I found this file limit error was causing high load on my server.
Open your .cnf file with your favorite editor
change the open file limit to a number as high as 100 000
open_files_limit = 100000
Save and restart mysql server
service mysql restart