Ultra 45 Boot Loop

I am trying to get an old Ultra 45 to boot and it is stuck in a loop. I cannot get anything to come up on a monitor, so when I hook up a serial connection to the TTYa interface I see the following output:

@(#)OBP 4.21.2 2005/12/22 17:17 Sun Ultra 45 Workstation
Clearing TLBs
Loading Configuration

Membase: 0000.0012.0000.0000
MemSize: 0000.0000.8000.0000
Init CPU arrays Done
Init E$ tags Done
Setup TLB Done
MMUs ON
Init Fire JBUS Control Register...
Block Scrubbing Done
Find dropin, Copying Done, Size 0000.0000.0000.72a0
PC = 0000.07ff.f000.61b8
PC = 0000.0000.0000.6268
Find dropin, (copied), Decompressing
RED State Exception
Error enable reg: 0000.0000.0000.0000
CPU 0000.0000.0000.0001 AFSR 0230.02ae.00c0.0110 JETO Multiple PRIV UCU CPU WDU                                          EDU UE CE
AFAR 0000.0012.7ff0.44f0
CPU: 0000.0000.0000.0001
TL=0000.0000.0000.0005 TT=0000.0000.0000.0064
   TPC=0000.0000.4200.4c80 TnPC=0000.0000.4200.4c84 TSTATE=0000.0000.1504.1402
TL=0000.0000.0000.0004 TT=0000.0000.0000.0064
   TPC=0000.0000.4200.4c80 TnPC=0000.0000.4200.4c84 TSTATE=0000.0000.1504.1402
TL=0000.0000.0000.0003 TT=0000.0000.0000.0064
   TPC=0000.0000.4200.4c80 TnPC=0000.0000.4200.4c84 TSTATE=0000.0000.1504.1402
TL=0000.0000.0000.0002 TT=0000.0000.0000.0064
   TPC=0000.0000.4200.0200 TnPC=0000.0000.4200.0204 TSTATE=0000.0000.1500.1502
TL=0000.0000.0000.0001 TT=0000.0000.0000.0010
   TPC=0000.0000.0000.6fec TnPC=0000.0000.0000.6ff0 TSTATE=0000.0000.1500.1502

CPU 0000.0000.0000.0001 AFSR 0020.0080.0040.0003 Multiple CPU
AFAR 0000.0012.7ff0.44f0
CPU 0000.0000.0000.0000 AFSR 00b0.0001.0100.0000 JEIC Multiple PRIV RUE
AFAR 0000.0012.7ff0.44e0
reset reason: 0000.0000.0000.0005

It just keeps repeating this over and over, any ideas of what the issue is :confused:? Thanks.