Error, "Error: ORA-29289: directory access denied" when selecting load Alert Log (4302575)

The following error occurs when selecting "Load Alert Log" option in Alert Log Viewer window:

Error: ORA-29289: directory access denied
ORA-06512: at "SYS.UTL_FILE", line 29
ORA-06512: at "SYS.UTL_FILE", line 448
ORA-06512: at line 4

User has Execute grant on SYS.UTL_FILE package.
 

Insufficient privileges to the Oracle Directory used.

Grant Read to the user on Oracle Directory used. To determine the Oracle Directory name, enable Spool SQL and look for the following directory name used in UTL_FILE.FILE_TYPE block of code.

Grant READ on DIRECTORY <directory name> to <user name>;