Excelsior BS&TAMU MBA Gmat/Gre Requirement

As I am nearing completion of my excelsior BS.
I am looking into enrolling in the TAMU MBA.
The web site states:
Do I have to take the GMAT or the GRE?Top...
Yes, unless your UGPA is 3.0 or higher. The minimum scores that must be met are: GMAT 500 total with 20 verbal, GRE total of 1000.
http://www7.tamu-commerce.edu/graduateprograms/faq.asp?pageName=questions&menuName=questions#q7
I believe the GPA HAS TO BE 3.0 or above for the last 60 hours.
I have a 3.8 GPA at Excelsior but only 40 credits or so are graded the rest are pass fail.
Do you know if they will recognize the excelsior GPA or will I have to take the GMAT GRE?
Thank you much