diff --git a/Gems/ScriptCanvas/Code/Editor/View/Windows/Tools/UpgradeTool/Controller.cpp b/Gems/ScriptCanvas/Code/Editor/View/Windows/Tools/UpgradeTool/Controller.cpp
index 44d6f2e738..09f0428901 100644
--- a/Gems/ScriptCanvas/Code/Editor/View/Windows/Tools/UpgradeTool/Controller.cpp
+++ b/Gems/ScriptCanvas/Code/Editor/View/Windows/Tools/UpgradeTool/Controller.cpp
@@ -94,6 +94,7 @@ namespace ScriptCanvasEditor
 
         void Controller::OnScanButtonPress()
         {
+            // \todo move to another file
             auto isUpToDate = [this](AZ::Data::Asset<AZ::Data::AssetData> asset)
             {
                 AZ::Entity* scriptCanvasEntity = nullptr;
diff --git a/Gems/ScriptCanvas/Code/Editor/View/Windows/Tools/UpgradeTool/ModelTraits.h b/Gems/ScriptCanvas/Code/Editor/View/Windows/Tools/UpgradeTool/ModelTraits.h
index d48c15949a..d01d311ebc 100644
--- a/Gems/ScriptCanvas/Code/Editor/View/Windows/Tools/UpgradeTool/ModelTraits.h
+++ b/Gems/ScriptCanvas/Code/Editor/View/Windows/Tools/UpgradeTool/ModelTraits.h
@@ -18,6 +18,8 @@ namespace ScriptCanvasEditor
         {
             AZStd::function<void(AZ::Data::Asset<AZ::Data::AssetData>)> modification;
             bool backupGraphBeforeModification = false;
+            // disabling this can be acceptable, but be careful
+            bool successfulDependencyUpgradeRequired = true;
         };
 
         struct ScanConfiguration
diff --git a/Gems/ScriptCanvas/Code/Editor/View/Windows/Tools/UpgradeTool/Modifier.cpp b/Gems/ScriptCanvas/Code/Editor/View/Windows/Tools/UpgradeTool/Modifier.cpp
index d782ebd572..9841a9f60e 100644
--- a/Gems/ScriptCanvas/Code/Editor/View/Windows/Tools/UpgradeTool/Modifier.cpp
+++ b/Gems/ScriptCanvas/Code/Editor/View/Windows/Tools/UpgradeTool/Modifier.cpp
@@ -7,6 +7,8 @@
  */
 
 #include <Editor/View/Windows/Tools/UpgradeTool/Modifier.h>
+#include <ScriptCanvas/Asset/RuntimeAsset.h>
+#include <ScriptCanvas/Assets/ScriptCanvasAsset.h>
 
 namespace ModifierCpp
 {
@@ -21,15 +23,98 @@ namespace ScriptCanvasEditor
             ( const ModifyConfiguration& modification
             , AZStd::vector<AZ::Data::AssetInfo>&& assets
             , AZStd::function<void()> onComplete)
+            : m_config(modification)
+            , m_assets(assets)
+            , m_onComplete(onComplete)
         {
-
             ModelNotificationsBus::Broadcast(&ModelNotificationsTraits::OnUpgradeAllBegin);
             AZ::SystemTickBus::Handler::BusConnect();
         }
 
+
+        const AZ::Data::AssetInfo& Modifier::GetCurrentAsset() const
+        {
+            return m_state == State::GatheringDependencies
+                ? m_assets[m_assetIndex]
+                : m_assets[m_dependencyOrderedIndicies[m_assetIndex]];
+        }
+
+        void Modifier::GatherDependencies()
+        {
+            AZ::SerializeContext* serializeContext{};
+            AZ::ComponentApplicationBus::BroadcastResult(serializeContext, &AZ::ComponentApplicationBus::Events::GetSerializeContext);
+            AZ_Assert(serializeContext, "SerializeContext is required to enumerate dependent assets in the ScriptCanvas file");
+
+            /*
+
+            // AZStd::unordered_multimap<AZStd::string, AssetBuilderSDK::SourceFileDependency> jobDependenciesByKey;
+            auto assetFilter = [this, &jobDependenciesByKey]
+                ( void* instancePointer
+                , const AZ::SerializeContext::ClassData* classData
+                , [[maybe_unused]] const AZ::SerializeContext::ClassElement* classElement)
+            {
+                auto azTypeId = classData->m_azRtti->GetTypeId();
+                if (azTypeId == azrtti_typeid<AZ::Data::Asset<ScriptCanvas::SubgraphInterfaceAsset>>())
+                {
+                    const auto* subgraphAsset = reinterpret_cast<AZ::Data::Asset<const ScriptCanvas::SubgraphInterfaceAsset>*>(instancePointer);
+                    if (subgraphAsset->GetId().IsValid())
+                    {
+                        // AssetBuilderSDK::SourceFileDependency dependency;
+                        // dependency.m_sourceFileDependencyUUID = subgraphAsset->GetId().m_guid;
+                        // jobDependenciesByKey.insert({ s_scriptCanvasProcessJobKey, dependency });
+                        // this->m_processEditorAssetDependencies.push_back
+                        // ({ subgraphAsset->GetId(), azTypeId, AZ::Data::AssetLoadBehavior::PreLoad });
+                    }
+                }
+                // always continue, make note of the script canvas dependencies
+                return true;
+            };
+
+            AZ_Verify(serializeContext->EnumerateInstanceConst
+                ( sourceGraph->GetGraphData()
+                , azrtti_typeid<ScriptCanvas::GraphData>()
+                , assetFilter
+                , {}
+                , AZ::SerializeContext::ENUM_ACCESS_FOR_READ
+                , nullptr
+                , nullptr), "Failed to gather dependencies from graph data");
+
+            // Flush asset database events to ensure no asset references are held by closures queued on Ebuses.
+            AZ::Data::AssetManager::Instance().DispatchEvents();
+            */
+        }
+
+        AZ::Data::Asset<AZ::Data::AssetData> Modifier::LoadAsset()
+        {
+            AZ::Data::Asset<AZ::Data::AssetData> asset = AZ::Data::AssetManager::Instance().GetAsset
+            (GetCurrentAsset().m_assetId
+                , azrtti_typeid<ScriptCanvasAsset>()
+                , AZ::Data::AssetLoadBehavior::PreLoad);
+
+            asset.BlockUntilLoadComplete();
+
+            if (asset.IsReady())
+            {
+                return asset;
+            }
+            else
+            {
+                return {};
+            }
+        }
+
         void Modifier::OnSystemTick()
         {
+            switch (m_state)
+            {
+            case State::GatheringDependencies:
+                TickGatherDependencies();
+                break;
 
+            case State::ModifyingGraphs:
+                TickUpdateGraph();
+                break;
+            }
         }
     }
 }
diff --git a/Gems/ScriptCanvas/Code/Editor/View/Windows/Tools/UpgradeTool/Modifier.h b/Gems/ScriptCanvas/Code/Editor/View/Windows/Tools/UpgradeTool/Modifier.h
index d391f51bf7..b862de82f0 100644
--- a/Gems/ScriptCanvas/Code/Editor/View/Windows/Tools/UpgradeTool/Modifier.h
+++ b/Gems/ScriptCanvas/Code/Editor/View/Windows/Tools/UpgradeTool/Modifier.h
@@ -28,12 +28,29 @@ namespace ScriptCanvasEditor
                 , AZStd::function<void()> onComplete);
 
         private:
+            enum class State
+            {
+                GatheringDependencies,
+                ModifyingGraphs
+            };
+
+            State m_state = State::GatheringDependencies;
             size_t m_assetIndex = 0;
             AZStd::function<void()> m_onComplete;
+            AZStd::vector<AZ::Data::AssetInfo> m_assets;
+            AZStd::vector<size_t> m_dependencyOrderedIndicies;
+            AZStd::unordered_map<size_t, AZStd::unordered_set<size_t>> m_dependencies;
+            AZStd::vector<size_t> m_failures;
             ModifyConfiguration m_config;
-            ModifyConfiguration m_result;
+            ModificationResult m_result;
 
+            void GatherDependencies();
+            const AZ::Data::AssetInfo& GetCurrentAsset() const;
+            AZ::Data::Asset<AZ::Data::AssetData> LoadAsset();
+            void SortGraphsByDependencies();
             void OnSystemTick() override;
+            void TickGatherDependencies();
+            void TickUpdateGraph();
         };
     }
 }