Preheat oven to 350F. Grease and flour a standard size bundt pan {loaf pans or a springform pan can be used as well} and set aside.

In a medium mixing bowl or stand mixer, beat together the eggs and sugars. Add the oil, applesauce, and vanilla and beat until combined. In a separate bowl, combine all the dry ingredients. Add wet and dry ingredients and stir to combine. Pour into prepared pan.

Bake at 350 degrees for 40-45 minutes or until a toothpick inserted in the middle comes out clean. Cool completely {if taking out of the pan, cool for 10 minutes and then turn out onto cooling rack}.

While cake is baking, combine first 4 glaze ingredients in a sauce pan over medium-high heat. Bring to a boil, stirring constantly, and continue the boil for one minute. Remove from the heat and stir in the powdered sugar. Let rest for a few minutes to thicken. Pour over cake and enjoy!