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Description of problem:
while testing rhel guest image (rhel-guest-image-7.2-20151102.0.el7), 
creating a VM from this template, 
configure cloud init user /password.
Run VM, At this stage DO NOT login to into the guest!
power off VM,
add nic,
Run VM -> inside guest kernel panic look alike trace is seen (screen shot attached).
Version-Release number of selected component (if applicable):

Host:
rhel 7.1
vdsm-4.16.28-1.el7ev
libvirt-1.2.8-16.el7_1.4

engine:
vt18, rhevm 3.5.6

How reproducible:
always reproduced, on the same setup

Additional info:

Created attachment 1089727 [details]
end of trace on guest screenshot

Created attachment 1089728 [details]
1 page before end of trace on guest screenshot

Bug didn't reproduced by the following flow:
On 
Host:
rhel 7.1
vdsm-4.16.28-1.el7ev
libvirt-1.2.8-16.el7_1.4

engine:
vt18, rhevm 3.5.6

-Install guest on rhevm 3.5.6 vt18, with rhel7.2 latest.
-create a template from it.
-Create a VM from that template
-Remove nic
-edit VM and define cloud init user/password
-Run VM
-power off VM
-add nic
-run VM

I am not able to reproduce this behavior with the current RHEL guest image. If you believe this is still a problem, please reopen this bug.