Cannot create Remote Agent. Check testing tool installation

I am currently receiving the following error message when I select a UFT test in Test Lab, and click on the ‘Test Scripts’ tab in ALM. “Cannot create Remote Agent. Check testing tool installation.” I am currently using ALM 12.01.141 with UFT 12.54.3256. I have registered the ALM Client on the UFT machine, and I have also verified that the ALM add-in is installed on the machine.