Prime Rib ?

Im gonna try my first prime rib for NYE (along with some ABTs and a Breakfast Fatty for New Years Day....cant wait), anyways, once I pull the prime rib (im gonna pull it at 120....i like it rare), im gonna foil / towel / cooler it for a half hour. My question is, do I then need to let it rest out of the cooler for awhile before cutting it (so the juices re-distribute) or is this the purpose of putting it in the cooler? Basically, can I cut right out of the cooler??? Im just trying to time dinner the best I can.
Thanks for the help.
And if this goes well Im hoping to get some QView up as well.
Chris