[c#] ProcessStartInfo hanging on "WaitForExit"? Why?

The problem with unhandled ObjectDisposedException happens when the process is timed out. In such case the other parts of the condition:

if (process.WaitForExit(timeout) 
    && outputWaitHandle.WaitOne(timeout) 
    && errorWaitHandle.WaitOne(timeout))

are not executed. I resolved this problem in a following way:

using (AutoResetEvent outputWaitHandle = new AutoResetEvent(false))
using (AutoResetEvent errorWaitHandle = new AutoResetEvent(false))
{
    using (Process process = new Process())
    {
        // preparing ProcessStartInfo

        try
        {
            process.OutputDataReceived += (sender, e) =>
                {
                    if (e.Data == null)
                    {
                        outputWaitHandle.Set();
                    }
                    else
                    {
                        outputBuilder.AppendLine(e.Data);
                    }
                };
            process.ErrorDataReceived += (sender, e) =>
                {
                    if (e.Data == null)
                    {
                        errorWaitHandle.Set();
                    }
                    else
                    {
                        errorBuilder.AppendLine(e.Data);
                    }
                };

            process.Start();

            process.BeginOutputReadLine();
            process.BeginErrorReadLine();

            if (process.WaitForExit(timeout))
            {
                exitCode = process.ExitCode;
            }
            else
            {
                // timed out
            }

            output = outputBuilder.ToString();
        }
        finally
        {
            outputWaitHandle.WaitOne(timeout);
            errorWaitHandle.WaitOne(timeout);
        }
    }
}