The error was present on Minicart, Product view page, and Checkout page and even changing to default Magento 2 template did not fix the issue. Eventually, I found that the issue was with Magento JS merging and I was able to fix the issue by making the following changes:
In Backend go to:
Deploy the static files
Clear cache under
System -> Cache Management
Additional Cache Managementregion choose the Button
Flush Magento Cacheafterwards
Now clear Cache in Browser and reload. Everything should be back to normal now.