Question about Warm Standby

I set up a failover system with one primary server and one standby server.
In the standby server's log, I saw the lines like below:

Command for restore : copy "E:\archive\00000001000000000000004C"
"pg_xlog\RECOVERYXLOG"

The above line means that: the transaction log file 00000001000000000000004C
was copied and renamed to RECOVERYXLOG in the pg_xlog folder of the standby
server, right?
So the standby server only keeps each transaction log from the primary
server temporarily in its pg_xlog folder during the recovery procedure,
right?

Thanks.

Jack