--------------------------
                                                             OMB APPROVAL
                                                      --------------------------
                                                      OMB Number:      3235-0145
                                                      Expires: February 28, 2009
                                                      Estimated  average  burden
                                                      hours per response....14.5
                                                      --------------------------


                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934
                               (Amendment No. __)*


                       Accredited Home Lenders Holding Co.
--------------------------------------------------------------------------------
                                (Name of Issuer)

                    Common Stock, par value $0.001 per share
--------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    00437P107
--------------------------------------------------------------------------------
                                 (CUSIP Number)

                                November 2, 2006
--------------------------------------------------------------------------------
             (Date of Event which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

|_|      Rule 13d-1(b)
|X|      Rule 13d-1(c)
|_|      Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for any  subsequent  amendment  containing  information  which  would  alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the liabilities of that section of the Act
but  shall be  subject  to all other  provisions  of the Act  (however,  see the
Notes).

                         (Continued on following pages)
                               Page 1 of 36 Pages
                         Exhibit Index Found on Page 34





                                       13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Farallon Capital Partners, L.P.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page,  however,  is a beneficial  owner only of
                           the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            California
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    285,000
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     285,000
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            285,000
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            1.1%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            PN
------------====================================================================


                               Page 2 of 36 Pages



                                        13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Farallon Capital Institutional Partners, L.P.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page,  however,  is a beneficial  owner only of
                           the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            California
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    222,600
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     222,600
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            222,600
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            0.9%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            PN
------------====================================================================


                               Page 3 of 36 Pages



                                        13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Farallon Capital Institutional Partners II, L.P.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page,  however,  is a beneficial  owner only of
                           the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            California
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    18,200
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     18,200
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            18,200
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            0.1%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            PN
------------====================================================================


                               Page 4 of 36 Pages



                                        13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Farallon Capital Institutional Partners III, L.P.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page,  however,  is a beneficial  owner only of
                           the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            Delaware
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    17,300
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     17,300
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            17,300
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            0.1%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            PN
------------====================================================================


                               Page 5 of 36 Pages



                                        13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Tinicum Partners, L.P.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page,  however,  is a beneficial  owner only of
                           the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            New York
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    8,500
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     8,500
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            8,500
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            0.0%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            PN
------------====================================================================


                               Page 6 of 36 Pages



                                        13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Farallon Capital Offshore Investors II, L.P.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page,  however,  is a beneficial  owner only of
                           the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            Cayman Islands
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    318,400
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     318,400
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            318,400
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            1.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            PN
------------====================================================================


                               Page 7 of 36 Pages



                                        13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Noonday Capital Partners, L.L.C.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page,  however,  is a beneficial  owner only of
                           the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            Delaware
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    3,400
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     3,400
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            3,400
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            0.0%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            OO
------------====================================================================


                               Page 8 of 36 Pages



                                        13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Farallon Capital Management, L.L.C.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            Delaware
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    705,949
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     705,949
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            705,949
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            2.8%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IA, OO
------------====================================================================


                               Page 9 of 36 Pages



                                      13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Farallon Partners, L.L.C.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            Delaware
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    873,400
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     873,400
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            873,400
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            3.5%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            OO
------------====================================================================


                              Page 10 of 36 Pages



                                        13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Chun R. Ding
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    1,579,349
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     1,579,349
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            1,579,349
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            6.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                              Page 11 of 36 Pages



                                        13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            William F. Duhamel
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    1,579,349
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     1,579,349
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            1,579,349
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            6.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                              Page 12 of 36 Pages



                                       13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Richard B. Fried
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    1,579,349
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     1,579,349
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            1,579,349
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            6.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                              Page 13 of 36 Pages



                                        13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Monica R. Landry
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    1,579,349
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     1,579,349
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            1,579,349
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            6.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                              Page 14 of 36 Pages



                                        13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            William F. Mellin
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    1,579,349
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     1,579,349
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            1,579,349
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            6.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                              Page 15 of 36 Pages



                                       13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Stephen L. Millham
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    1,579,349
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     1,579,349
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            1,579,349
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            6.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                              Page 16 of 36 Pages



                                        13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Jason E. Moment
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    1,579,349
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     1,579,349
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            1,579,349
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            6.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                              Page 17 of 36 Pages



                                        13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Rajiv A. Patel
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    1,579,349
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     1,579,349
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            1,579,349
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            6.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                              Page 18 of 36 Pages



                                       13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Derek C. Schrier
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    1,579,349
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     1,579,349
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            1,579,349
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            6.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                              Page 19 of 36 Pages



                                       13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Thomas F. Steyer
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    1,579,349
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     1,579,349
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            1,579,349
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            6.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                              Page 20 of 36 Pages



                                        13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Mark C. Wehrly
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    1,579,349
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     1,579,349
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            1,579,349
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            6.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                              Page 21 of 36 Pages



                                        13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Noonday Asset Management, L.P.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            Delaware
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    308,049
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     308,049
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            308,049
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            1.2%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IA
------------====================================================================


                              Page 22 of 36 Pages



                                        13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Noonday G.P. (U.S.), L.L.C.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            Delaware
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    308,049
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     308,049
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            308,049
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            1.2%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            OO
------------====================================================================


                              Page 23 of 36 Pages



                                        13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Noonday Capital, L.L.C.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            Delaware
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    308,049
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     308,049
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            308,049
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            1.2%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
             OO
------------====================================================================


                              Page 24 of 36 Pages



                                        13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            David I. Cohen
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            Delaware
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    308,049
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     308,049
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            308,049
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            1.2%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                              Page 25 of 36 Pages



                                        13G
===================
CUSIP No. 00437P107
===================


------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Saurabh K. Mittal
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 1,579,349  Shares,  which is 6.3% of the
                           class of  securities.  The  reporting  person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            India
------------====================================================================
                                     SOLE VOTING POWER
                             5
         NUMBER OF                   -0-
                         ------------===========================================
          SHARES                     SHARED VOTING POWER
       BENEFICIALLY          6
         OWNED BY                    308,049
                         ------------===========================================
           EACH                      SOLE DISPOSITIVE POWER
                             7
         REPORTING                   -0-
        PERSON WITH      ------------===========================================
                                     SHARED DISPOSITIVE POWER
                             8
                                     308,049
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            308,049
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)
                                                                  [   ]
------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            1.2%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                              Page 26 of 36 Pages



Item 1.  Issuer
         ------

         (a)      Name of Issuer:
                  --------------

                  Accredited Home Lenders Holding Co. (the "Company")

         (b)      Address of Issuer's Principal Executive Offices:
                  -----------------------------------------------

                  15090 Avenue of Science, San Diego, California 92128.

Item 2.  Identity And Background
         -----------------------

         Title Of Class Of Securities And CUSIP Number (Item 2(d) and (e))
         ----------------------------------------------------------------

         This statement  relates to shares of Common Stock, par value $0.001 per
share  (the  "Shares"),  of the  Company.  The  CUSIP  number  of the  Shares is
00437P107.

         Name Of Persons Filing, Address Of Principal Business Office And
         ----------------------------------------------------------------
         Citizenship (Item 2(a), (b) and (c))
         ------------------------------------

         This statement is filed by the entities and persons  listed below,  all
of whom together are referred to herein as the "Reporting Persons."

         The Farallon Funds
         ------------------

                  (i)      Farallon Capital Partners, L.P., a California limited
                           partnership ("FCP"),  with respect to the Shares held
                           by it;

                  (ii)     Farallon  Capital  Institutional  Partners,  L.P.,  a
                           California limited partnership ("FCIP"), with respect
                           to the Shares held by it;

                  (iii)    Farallon Capital  Institutional  Partners II, L.P., a
                           California  limited  partnership  ("FCIP  II"),  with
                           respect to the Shares held by it;

                  (iv)     Farallon Capital Institutional  Partners III, L.P., a
                           Delaware  limited   partnership  ("FCIP  III"),  with
                           respect to the Shares held by it;

                  (v)      Tinicum   Partners,   L.P.,   a  New   York   limited
                           partnership  ("Tinicum"),  with respect to the Shares
                           held by it; and

                  (vi)     Farallon  Capital  Offshore  Investors  II,  L.P.,  a
                           Cayman Islands  exempted limited  partnership  ("FCOI
                           II"), with respect to the Shares held by it.

         FCP, FCIP, FCIP II, FCIP III, Tinicum and FCOI II are together referred
to herein as the "Farallon Funds."


                              Page 27 of 36 Pages



                 The Noonday Fund
                 ----------------

                  (vii)    Noonday Capital Partners,  L.L.C., a Delaware limited
                           liability company (the "Noonday Fund"),  with respect
                           to the Shares held by it.

         The Noonday Fund and the Farallon Funds are together referred to herein
as the "Funds."

         The Management Company
         ----------------------

                  (viii)   Farallon  Capital  Management,   L.L.C.,  a  Delaware
                           limited liability company (the "Management Company"),
                           with  respect to the Shares held by certain  accounts
                           managed  by  the  Management  Company  (the  "Managed
                           Accounts").

         The Farallon General Partner
         ----------------------------

                  (ix)     Farallon   Partners,   L.L.C.,   a  Delaware  limited
                           liability  company  which is the  general  partner of
                           each of the Farallon Funds and the managing member of
                           the Noonday Fund (the  "Farallon  General  Partner"),
                           with respect to the Shares held by each of the Funds.

         The Farallon Managing Members
         -----------------------------

                   (x)     The  following  persons who are  managing  members of
                           both the Farallon  General Partner and the Management
                           Company, with respect to the Shares held by the Funds
                           and the  Managed  Accounts:  Chun R.  Ding  ("Ding"),
                           William  F.  Duhamel  ("Duhamel"),  Richard  B. Fried
                           ("Fried"),  Monica R. Landry  ("Landry"),  William F.
                           Mellin  ("Mellin"),  Stephen L. Millham  ("Millham"),
                           Jason E. Moment ("Moment"), Rajiv A. Patel ("Patel"),
                           Derek  C.  Schrier  ("Schrier"),   Thomas  F.  Steyer
                           ("Steyer"), and Mark C. Wehrly ("Wehrly").

         Ding, Duhamel, Fried, Landry, Mellin, Millham,  Moment, Patel, Schrier,
Steyer,  and Wehrly are together referred to herein as the "Farallon  Individual
Reporting Persons."

         The Noonday Sub-adviser Entities
         --------------------------------

                  (xi)     Noonday  G.P.  (U.S.),  L.L.C.,  a  Delaware  limited
                           liability   company   which   is   a   sub-investment
                           adviser(1)  to each  of the  Funds  and  the  Managed
                           Accounts  (the  "First  Noonday  Sub-adviser"),  with
                           respect to all of the


--------------------------
(1) The First Noonday  Sub-adviser  and the Second Noonday  Sub-adviser  entered
into  certain  subadvisory  arrangements  with the  Management  Company  and the
Farallon General Partner effective as of January 1, 2005,  pursuant to which the
First  Noonday  Sub-adviser  and the Second  Noonday  Sub-adviser  were  granted
investment  discretion over all of the assets of the Noonday Fund and certain of
the assets of the Farallon Funds and the Managed Accounts.


                              Page 28 of 36 Pages



                           Shares  held by the  Noonday  Fund and certain of the
                           Shares  held by the  Farallon  Funds and the  Managed
                           Accounts;

                  (xii)    Noonday Asset  Management,  L.P., a Delaware  limited
                           partnership  which is a sub-investment  adviser(1) to
                           each of the  Funds  and  the  Managed  Accounts  (the
                           "Second Noonday Sub-adviser"), with respect to all of
                           the Shares  held by the  Noonday  Fund and certain of
                           the Shares held by the Farallon Funds and the Managed
                           Accounts; and

                  (xiii)   Noonday Capital, L.L.C., a Delaware limited liability
                           company  which is the  general  partner of the Second
                           Noonday  Sub-adviser (the "Noonday General Partner"),
                           with respect to all of the Shares held by the Noonday
                           Fund and certain of the Shares  held by the  Farallon
                           Funds and the Managed Accounts.

         The First Noonday  Sub-adviser,  the Second Noonday Sub-adviser and the
Noonday  General  Partner  are  together  referred  to  herein  as the  "Noonday
Sub-adviser Entities."

         The Noonday Managing Members
         ----------------------------

                  (xiv)    David  I.  Cohen  ("Cohen")  and  Saurabh  K.  Mittal
                           ("Mittal"),  the  managing  members of both the First
                           Noonday  Sub-adviser and the Noonday General Partner,
                           with respect to all of the Shares held by the Noonday
                           Fund and certain of the Shares  held by the  Farallon
                           Funds and the Managed Accounts.

         Cohen and  Mittal are  referred  to herein as the  "Noonday  Individual
Reporting  Persons." The Farallon  Individual  Reporting Persons and the Noonday
Individual  Reporting Persons are together referred to herein as the "Individual
Reporting Persons."

         The citizenship of each of the Noonday Sub-adviser Entities, the Funds,
the Management Company and the Farallon General Partner is set forth above. Each
of the Individual Reporting Persons other than Mittal is a citizen of the United
States.  Mittal is a citizen of India.  The  address of the  principal  business
office of each of the Noonday  Sub-adviser  Entities and the Noonday  Individual
Reporting Persons is c/o Noonday Asset Management,  L.P., 227 West Trade Street,
Suite 2140,  Charlotte,  North  Carolina  28202.  The  address of the  principal
business  office  of  each of the  Reporting  Persons  other  than  the  Noonday
Sub-adviser  Entities  and  the  Noonday  Individual  Reporting  Persons  is c/o
Farallon  Capital  Management,  L.L.C.,  One  Maritime  Plaza,  Suite 1325,  San
Francisco, California 94111.

Item 3.  If This Statement Is Filed Pursuant To Sections 240.13d-1(b) or
         ---------------------------------------------------------------
         240.13d-2(b) or (c), Check Whether The Person Filing Is An Entity
         -----------------------------------------------------------------
         Specified In (a) - (j):
         -----------------------

           Not Applicable.

           If This Statement Is Filed Pursuant To Section 240.13d-1(c), Check
           ------------------------------------------------------------------
           This Box. [X]
           ---------


                              Page 29 of 36 Pages



Item 4.  Ownership
         ---------

         The  information  required  by Items 4(a) - (c) and set forth in Rows 5
through 11 of the cover page for each  Reporting  Person hereto is  incorporated
herein by reference for each such Reporting Person.

         The  Shares  reported  hereby for the Funds are owned  directly  by the
Funds and those  reported  by the  Management  Company on behalf of the  Managed
Accounts are owned directly by the Managed Accounts.  The Management Company, as
investment  adviser to the Managed Accounts,  may be deemed to be the beneficial
owner of all such Shares owned by the Managed  Accounts.  The  Farallon  General
Partner,  as general  partner to the Farallon  Funds and managing  member of the
Noonday Fund, may be deemed to be the beneficial  owner of all such Shares owned
by the Funds. The Farallon Individual  Reporting Persons, as managing members of
both the Management  Company and the Farallon  General Partner with the power to
exercise investment discretion, may each be deemed to be the beneficial owner of
all such Shares owned by the Funds and the Managed  Accounts.  The First Noonday
Sub-adviser and the Second Noonday  Sub-adviser,  as sub-investment  advisers to
the Funds and the Managed Accounts, may be deemed to be the beneficial owners of
all such Shares  owned by the Noonday  Fund and certain of such Shares  owned by
the Farallon Funds and the Managed  Accounts.  The Noonday General  Partner,  as
general  partner  to the  Second  Noonday  Sub-adviser,  may be deemed to be the
beneficial  owner of all such Shares  owned by the  Noonday  Fund and certain of
such Shares owned by the Farallon  Funds and the Managed  Accounts.  The Noonday
Individual  Reporting  Persons,  as managing  members of both the First  Noonday
Sub-adviser  and the  Noonday  General  Partner,  may each be  deemed  to be the
beneficial  owner of all such Shares  owned by the  Noonday  Fund and certain of
such Shares owned by the Farallon  Funds and the Managed  Accounts.  Each of the
Management  Company,  the  Farallon  General  Partner,  the Noonday  Sub-adviser
Entities and the Individual  Reporting  Persons hereby  disclaims any beneficial
ownership of any such Shares.

Item 5.  Ownership Of Five Percent Or Less Of A Class
         --------------------------------------------

         Not Applicable.

Item 6.  Ownership Of More Than Five Percent On Behalf Of Another Person
         ---------------------------------------------------------------

         Not Applicable.

Item 7.  Identification And Classification Of The Subsidiary Which Acquired The
         ----------------------------------------------------------------------
         Security Being Reported On By The Parent Holding Company
         --------------------------------------------------------

         Not Applicable.

Item 8.  Identification And Classification Of Members Of The Group
         ---------------------------------------------------------

         The Reporting  Persons are filing this Schedule 13G pursuant to Section
240.13d-1(c). Consistent with Item 2 of the cover page for each Reporting Person
above,  the  Reporting  Persons


                              Page 30 of 36 Pages



neither disclaim nor affirm the existence of a group among them.

Item 9.  Notice Of Dissolution Of Group
         ------------------------------

         Not Applicable.

Item 10. Certification
         -------------

         By  signing  below I  certify  that,  to the best of my  knowledge  and
belief, the securities  referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing  the control of the
issuer of the  securities  and were not acquired and are not held in  connection
with or as a participant in any transaction having that purpose or effect.

















                              Page 31 of 36 Pages



                                   SIGNATURES
                                   ----------

         After  reasonable  inquiry and to the best of our knowledge and belief,
the  undersigned  certify that the  information  set forth in this  statement is
true, complete and correct.

Dated:  November 13, 2006


                         /s/ Monica R. Landry
                      ----------------------------------------
                      FARALLON PARTNERS, L.L.C.,
                      On its own behalf,
                      as the General Partner of
                      FARALLON CAPITAL PARTNERS, L.P.,
                      FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,
                      FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
                      FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.,
                      TINICUM PARTNERS, L.P. and
                      FARALLON CAPITAL OFFSHORE INVESTORS II, L.P.
                      and as the Managing Member of
                      NOONDAY CAPITAL PARTNERS, L.L.C.
                      By Monica R. Landry, Managing Member


                         /s/ Monica R. Landry
                      ----------------------------------------
                      FARALLON CAPITAL MANAGEMENT, L.L.C.
                      By Monica R. Landry, Managing Member


                         /s/ Monica R. Landry
                      ----------------------------------------
                      NOONDAY G.P. (U.S.), L.L.C.
                      By Monica R. Landry, Attorney-in-fact


                         /s/ Monica R. Landry
                      ----------------------------------------
                      NOONDAY CAPITAL, L.L.C.,
                      On its own behalf
                      and as the General Partner of
                      NOONDAY ASSET MANAGEMENT, L.P.
                      By Monica R. Landry, Attorney-in-fact


                         /s/ Monica R. Landry
                      ----------------------------------------
                      Monica R. Landry, individually and as attorney-in-fact for
                      each of David I. Cohen, Chun R. Ding, William F. Duhamel,
                      Richard B. Fried, William F. Mellin, Stephen L. Millham,
                      Saurabh K. Mittal, Jason E. Moment, Rajiv A. Patel,
                      Derek C. Schrier, Thomas F. Steyer and Mark C. Wehrly


                              Page 32 of 36 Pages



         The Powers of Attorney  executed by Duhamel,  Fried,  Mellin,  Millham,
Steyer and Wehrly  authorizing Landry to sign and file this Schedule 13G on each
person's behalf, which were filed with Amendment No. 2 to the Schedule 13D filed
with the Securities and Exchange  Commission on July 16, 2003, by such Reporting
Persons with respect to the Common Stock of New World  Restaurant  Group,  Inc.,
are hereby  incorporated by reference.  The Powers of Attorney  executed by Ding
and  Schrier  authorizing  Landry  to sign and file  this  Schedule  13G on each
person's behalf, which were filed with Amendment No. 1 to the Schedule 13D filed
with the Securities  and Exchange  Commission on July 2, 2003, by such Reporting
Persons  with respect to the Common Stock of Salix  Pharmaceuticals,  Ltd.,  are
hereby  incorporated  by  reference.  The Power of  Attorney  executed  by Patel
authorizing  Landry to sign and file this Schedule 13G on his behalf,  which was
filed with  Amendment  No. 4 to the Schedule 13G filed with the  Securities  and
Exchange Commission on January 8, 2004, by such Reporting Person with respect to
the Common Stock of Catalytica Energy Systems,  Inc., is hereby  incorporated by
reference.  The Powers of Attorney  executed  by Noonday  G.P.  (U.S.),  L.L.C.,
Noonday Asset Management,  L.P.,  Noonday Capital,  L.L.C. and Cohen authorizing
Landry to sign and file this Schedule 13G on its or his behalf, which were filed
with  Amendment No. 5 to the Schedule 13G filed with the Securities and Exchange
Commission  on January 10, 2005, by such  Reporting  Persons with respect to the
Common Stock of Catalytica  Energy  Systems,  Inc., are hereby  incorporated  by
reference.  The Power of Attorney executed by Mittal  authorizing Landry to sign
and file this Schedule 13G on his behalf,  which was filed with  Amendment No. 6
to the Schedule 13G filed with the Securities and Exchange Commission on October
5, 2005, by such Reporting Person with respect to the Common Stock of Catalytica
Energy Systems, Inc., is hereby incorporated by reference. The Power of Attorney
executed by Moment  authorizing Landry to sign and file this Schedule 13G on his
behalf,  which was filed with the  Schedule  13D filed with the  Securities  and
Exchange Commission on January 9, 2006, by such Reporting Person with respect to
the  Common  Stock  of  Vintage  Petroleum,  Inc.,  is  hereby  incorporated  by
reference.








                              Page 33 of 36 Pages



                                  EXHIBIT INDEX



EXHIBIT 1                                Joint Acquisition Statement Pursuant to
                                         Section 240.13d-1(k)



















                              Page 34 of 36 Pages



                                                                       EXHIBIT 1
                                                                              to
                                                                    SCHEDULE 13G

                           JOINT ACQUISITION STATEMENT
                        PURSUANT TO SECTION 240.13d-1(k)
                        --------------------------------

         The undersigned  acknowledge and agree that the foregoing  statement on
Schedule  13G is  filed  on  behalf  of each of the  undersigned  and  that  all
subsequent amendments to this statement on Schedule 13G shall be filed on behalf
of each of the  undersigned  without the  necessity of filing  additional  joint
acquisition   statements.   The  undersigned  acknowledge  that  each  shall  be
responsible for the timely filing of such  amendments,  and for the completeness
and accuracy of the information concerning him, her or it contained therein, but
shall not be responsible  for the  completeness  and accuracy of the information
concerning the other  entities or persons,  except to the extent that he, she or
it knows or has reason to believe that such information is inaccurate.

Dated:  November 13, 2006


                         /s/ Monica R. Landry
                      ----------------------------------------
                      FARALLON PARTNERS, L.L.C.,
                      On its own behalf, as the General Partner of
                      FARALLON CAPITAL PARTNERS, L.P.,
                      FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,
                      FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
                      FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.,
                      TINICUM PARTNERS, L.P. and
                      FARALLON CAPITAL OFFSHORE INVESTORS II, L.P.
                      and as the Managing Member of
                      NOONDAY CAPITAL PARTNERS, L.L.C.
                      By Monica R. Landry, Managing Member


                         /s/ Monica R. Landry
                      ----------------------------------------
                      FARALLON CAPITAL MANAGEMENT, L.L.C.
                      By Monica R. Landry, Managing Member


                        /s/ Monica R. Landry
                      ----------------------------------------
                      NOONDAY G.P. (U.S.), L.L.C.
                      By Monica R. Landry, Attorney-in-fact


                         /s/ Monica R. Landry
                      ----------------------------------------
                      NOONDAY CAPITAL, L.L.C.,
                      On its own behalf
                      and as the General Partner of
                      NOONDAY ASSET MANAGEMENT, L.P.
                      By Monica R. Landry, Attorney-in-fact


                              Page 35 of 36 Pages



                         /s/ Monica R. Landry
                      ----------------------------------------
                      Monica R. Landry, individually and as attorney-in-fact for
                      each of David I. Cohen, Chun R. Ding, William F. Duhamel,
                      Richard B. Fried, William F. Mellin, Stephen L. Millham,
                      Saurabh K. Mittal, Jason E. Moment, Rajiv A. Patel,
                      Derek C. Schrier, Thomas F. Steyer and Mark C. Wehrly





















                              Page 36 of 36 Pages