diff --git a/Code/Framework/AzCore/AzCore/Component/ComponentApplication.cpp b/Code/Framework/AzCore/AzCore/Component/ComponentApplication.cpp
index def98ddb63..daf5b5efd2 100644
--- a/Code/Framework/AzCore/AzCore/Component/ComponentApplication.cpp
+++ b/Code/Framework/AzCore/AzCore/Component/ComponentApplication.cpp
@@ -526,6 +526,11 @@ namespace AZ
         // are destroyed
         m_commandLine = {};
 
+        m_entityAddedEvent.DisconnectAllHandlers();
+        m_entityRemovedEvent.DisconnectAllHandlers();
+        m_entityActivatedEvent.DisconnectAllHandlers();
+        m_entityDeactivatedEvent.DisconnectAllHandlers();
+
         DestroyAllocator();
     }
 
diff --git a/Code/Framework/AzCore/AzCore/EBus/Event.inl b/Code/Framework/AzCore/AzCore/EBus/Event.inl
index 82f5645ccd..3786f1c26b 100644
--- a/Code/Framework/AzCore/AzCore/EBus/Event.inl
+++ b/Code/Framework/AzCore/AzCore/EBus/Event.inl
@@ -233,6 +233,14 @@ namespace AZ
             AZ_Assert(handler->m_event == this, "Entry event does not match");
             handler->Disconnect();
         }
+
+        // Free up any owned memory
+        AZStd::vector<Handler*> freeHandlers;
+        m_handlers.swap(freeHandlers);
+        AZStd::vector<Handler*> freeAdds;
+        m_addList.swap(freeAdds);
+        AZStd::stack<size_t> freeFree;
+        m_freeList.swap(freeFree);
     }
 
 
diff --git a/Gems/Multiplayer/Code/Tests/RewindableObjectTests.cpp b/Gems/Multiplayer/Code/Tests/RewindableObjectTests.cpp
index d2d41723eb..367b7ee0de 100644
--- a/Gems/Multiplayer/Code/Tests/RewindableObjectTests.cpp
+++ b/Gems/Multiplayer/Code/Tests/RewindableObjectTests.cpp
@@ -37,12 +37,12 @@ namespace UnitTest
         {
             test = i;
             EXPECT_EQ(i, test);
-            AZ::Interface<Multiplayer::INetworkTime>::Get()->IncrementApplicationFrameId();
+            AZ::Interface<Multiplayer::INetworkTime>::Get()->IncrementHostFrameId();
         }
 
         for (uint32_t i = 0; i < 16; ++i)
         {
-            Multiplayer::ScopedAlterTime time(static_cast<Multiplayer::ApplicationFrameId>(i), AzNetworking::InvalidConnectionId);
+            Multiplayer::ScopedAlterTime time(static_cast<Multiplayer::HostFrameId>(i), AZ::TimeMs{ 0 }, AzNetworking::InvalidConnectionId);
             EXPECT_EQ(i, test);
         }
 
@@ -50,12 +50,12 @@ namespace UnitTest
         {
             test = i;
             EXPECT_EQ(i, test);
-            AZ::Interface<Multiplayer::INetworkTime>::Get()->IncrementApplicationFrameId();
+            AZ::Interface<Multiplayer::INetworkTime>::Get()->IncrementHostFrameId();
         }
 
         for (uint32_t i = 16; i < 48; ++i)
         {
-            Multiplayer::ScopedAlterTime time(static_cast<Multiplayer::ApplicationFrameId>(i), AzNetworking::InvalidConnectionId);
+            Multiplayer::ScopedAlterTime time(static_cast<Multiplayer::HostFrameId>(i), AZ::TimeMs{ 0 }, AzNetworking::InvalidConnectionId);
             EXPECT_EQ(i, test);
         }
     }
@@ -68,12 +68,12 @@ namespace UnitTest
         {
             test = i;
             EXPECT_EQ(i, test);
-            AZ::Interface<Multiplayer::INetworkTime>::Get()->IncrementApplicationFrameId();
+            AZ::Interface<Multiplayer::INetworkTime>::Get()->IncrementHostFrameId();
         }
 
         {
             // Note that we didn't actually set any value for time rewindableBufferFrames, so we're testing fetching a value past the last time set
-            Multiplayer::ScopedAlterTime time(static_cast<Multiplayer::ApplicationFrameId>(RewindableBufferFrames), AzNetworking::InvalidConnectionId);
+            Multiplayer::ScopedAlterTime time(static_cast<Multiplayer::HostFrameId>(RewindableBufferFrames), AZ::TimeMs{ 0 }, AzNetworking::InvalidConnectionId);
             EXPECT_EQ(RewindableBufferFrames - 1, test);
         }
     }
@@ -91,12 +91,12 @@ namespace UnitTest
         {
             Object& value = test.Modify();
             value.value = i;
-            AZ::Interface<Multiplayer::INetworkTime>::Get()->IncrementApplicationFrameId();
+            AZ::Interface<Multiplayer::INetworkTime>::Get()->IncrementHostFrameId();
         }
 
         for (uint32_t i = 0; i < RewindableBufferFrames; ++i)
         {
-            Multiplayer::ScopedAlterTime time(static_cast<Multiplayer::ApplicationFrameId>(i), AzNetworking::InvalidConnectionId);
+            Multiplayer::ScopedAlterTime time(static_cast<Multiplayer::HostFrameId>(i), AZ::TimeMs{ 0 }, AzNetworking::InvalidConnectionId);
             const Object& value = test;
             EXPECT_EQ(value.value, i);
         }
@@ -105,19 +105,19 @@ namespace UnitTest
     TEST_F(RewindableObjectTests, TestBackfillOnLargeTimestep)
     {
         Multiplayer::RewindableObject<uint32_t, RewindableBufferFrames> test(0);
-        Multiplayer::ScopedAlterTime time1(static_cast<Multiplayer::ApplicationFrameId>(0), AzNetworking::InvalidConnectionId);
+        Multiplayer::ScopedAlterTime time1(static_cast<Multiplayer::HostFrameId>(0), AZ::TimeMs{ 0 }, AzNetworking::InvalidConnectionId);
         test = 1;
 
-        Multiplayer::ScopedAlterTime time2(static_cast<Multiplayer::ApplicationFrameId>(31), AzNetworking::InvalidConnectionId);
+        Multiplayer::ScopedAlterTime time2(static_cast<Multiplayer::HostFrameId>(31), AZ::TimeMs{ 0 }, AzNetworking::InvalidConnectionId);
         test = 2;
 
         for (uint32_t i = 0; i < 31; ++i)
         {
-            Multiplayer::ScopedAlterTime time(static_cast<Multiplayer::ApplicationFrameId>(i), AzNetworking::InvalidConnectionId);
+            Multiplayer::ScopedAlterTime time(static_cast<Multiplayer::HostFrameId>(i), AZ::TimeMs{ 0 }, AzNetworking::InvalidConnectionId);
             EXPECT_EQ(1, test);
         }
 
-        Multiplayer::ScopedAlterTime time3(static_cast<Multiplayer::ApplicationFrameId>(31), AzNetworking::InvalidConnectionId);
+        Multiplayer::ScopedAlterTime time3(static_cast<Multiplayer::HostFrameId>(31), AZ::TimeMs{ 0 }, AzNetworking::InvalidConnectionId);
         EXPECT_EQ(2, test);
     }
 
@@ -127,13 +127,13 @@ namespace UnitTest
 
         for (uint32_t i = 0; i < 1000; ++i)
         {
-            AZ::Interface<Multiplayer::INetworkTime>::Get()->IncrementApplicationFrameId();
+            AZ::Interface<Multiplayer::INetworkTime>::Get()->IncrementHostFrameId();
         }
         test = 1000;
 
         for (uint32_t i = 0; i < 1000; ++i)
         {
-            Multiplayer::ScopedAlterTime time(static_cast<Multiplayer::ApplicationFrameId>(1000 - i), AzNetworking::InvalidConnectionId);
+            Multiplayer::ScopedAlterTime time(static_cast<Multiplayer::HostFrameId>(1000 - i), AZ::TimeMs{ 0 }, AzNetworking::InvalidConnectionId);
             EXPECT_EQ(1000, test);
         }
     }