Difficult and good question. Language is a tricky thing.
From the UCI TAG website: “• has earned a minimum GPA of 3.4 in all UC-transferable coursework by the end of the summer 2015 for fall 2016 admission and will maintain GPA of 3.4 in all UC-transferable coursework for all subsequent terms”
key words: maintain GPA of 3.4 in all UC-transferable coursework for all subsequent terms
Essentially, you have to maintain the 3.4 overall GPA. If you get a 3.3 one semester, but that brings you to a 3.5 overall GPA, you are okay.
I think. It seems that the “all UC-transferable coursework” has jurisdiction over the subsequent terms. It’s saying you need to keep a 3.4 in ALL coursework - so you need to keep your cumulative GPA under a 3.4.
I would be surprised to hear differently, but I could be incorrect. I don’t think I am, though.