I suspect you might have a server problem or configuration error, because all the errors messages show the full path to your hosting home folder (that's not the same as your websites root folder)

/home/eyebankn/public_html/updates/concrete5.4.2.1/concrete/..
and
/home/eyebankn/public_html/updates/concrete5.4.2.1/concrete/libraries/..

What's odd about this is Concrete5 normally isn't even aware of anything below where it is installed, which in your case is
/public_html/.
So I would suggest you talk to your hosting company.

If that is not it, what can you tell us about what happened right before things broke? Is version 5.4.2.1 the last update you did? What about add-ons?

Ask your hosting provider whether they have done any upgrade in server configuration.

Rony

Good point. If that's the case, you may need to upgrade Concrete5 (if your older version is no longer compatible with the upgraded server platform).

In my hosting plans (Siteground, TMD Hosting, Arvixe) I can select the PHP version in the Control Panel. Your host may have automatically 'upgraded' your PHP to version 5.4 which spits out lots of these types of errors. Can you get to Dashboard->Environment and see what version of PHP it's reporting?

Thank you very much everyone for your feedback.

Here's what Concrete5 is telling me - I'm being told that we have an older version of Concrete5 installed.
I checked with the hosting company and they say nothing changed on our hosting account that would account for the issue. (who knows if that's true or not.)

Concrete5 is recommending upgrading the Concrete 5 version.
I can't access the admin console.
When I log in, I get a whole other string of errors and no admin panel.

Since I can't access the admin panel, I may have to perform a manual upgrade.
http://www.concrete5.org/documentation/how-tos/developers/manually-...

Any thoughts?

Try logging into your host's Control panel and see what version of PHP it's running. I have attached 2 images of where the PHP stuff is on my host. Your's might be in a different place but should be labelled 'PHP Version' or something similar.

Who is your hosting company?

I don't think you'll find that option in most shared hosting accounts .
If you can, take the attached file phpinfo.txt and rename it phpinfo.php. Then upload it to your /home/eyebankn/public_html/ folder.

Then just go tohttp://yourdomain.com/phpinfo.php...
and it will tell you what version you're server is running.

If you need more detailed instructions, they're here
http://www.wikihow.com/Check-PHP-Version...

Assuming the problem is that the version of Concrete5 you are running is incompatible with what's running underneath (the version of php your your hosting is using, etc.), then doing a manual upgrade is what I would do in your current circumstance.

I never update a broken site. I especially don't like updating one where I'm blind while I'm doing the update. If the update fails, how would you know and what advice would we give then?

No, not blindly. I said assuming the problem is,,, meaning we figured out it's an incompatibility. In any case, I'm optimistic adajad gave us the solution.

Please see this post: http://www.concrete5.org/community/forums/installation/strict-stand...

If you can't modify php.ini in any way, you can modify index.php in your webroot to look like this: