This is not advised as it will allow PHP Processes to consume all of your virtual machines RAM. Keeping the memory limit in tact prevents a single process from taking down the entire virtual machine. It will lead to more instability.
This isn't a memory_limit thing. It's an out of memory error - as in, PHP couldn't allocate memory. In this case, after about 6MB. I'm not going to say you need more memory, but you may need to tune the memory usage of various services.
Update, I disabled the mod and after a day, this issue is still happening, we disabled all the mods but no fix yet, we even were moved to a new node and the issue still persists.
I am running out of options.
Thanks guys, I submitted the ticket , unfortunately the host is being terrible as of late since it's takes them nearly a day to reply to a ticket...time for me to consider looking for a new vps server provider soon.